Naver focuses on mobile shopping

Naver is trying to finally crack the mobile business, which it admits has been its Achilles’ heel. Naver is the largest search engine and portal in the country. However, as people steadily shift away from PCs to access the Internet, Naver has been seeking new businesses in the mobile sector. Naver said Tuesday it is introducing a one-stop mobile shopping platform in the first half of this year that forecasts the needs of users and reflects them in search results. It hopes users will shop and pay for goods using its payment system Naver Pay.

“Everyone knows that Naver is not No. 1 in the mobile business,” said Han Seong-sook, head of Naver’s services departments, at a press conference at Naver Partner Square in Yeoksam-dong, Gangnam, southern Seoul Turesday. “Naver lacks content and sharing functions, which are the most important component in mobile. We have a sense of urgency.”

Social networking services such as Google and Facebook are also competing in the mobile shopping market to compete with Amazon, Alibaba and eBay. Naver said it will use an Shopping Trend Graph algorithm that shows relevant information about shopping in search result and the algorithm can predict the users’ interests. Around 34 percent of keywords in Naver searches are already shopping related.

For full article, see Joongang Daily.

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